How to Convert More Customers by Adding Perceived Value

What separates a Hermès Birkin bag from a high-quality leather handbag you could buy anywhere? A label, a fancy charm, and about $22,000. But unlike the tangible qualities of a purchase, like the grade of leather used or the fact that the utterly useless bag charm is 14 karat gold, the perception of value is what really separates one bag from the other. One bag contains social cachet and the ability to draw envy from other women – intangible benefits so valuable; it justifies the raised price. The nameless bag, however, has its own set of benefits for a different…